LTIMindtree Shares Rally 5% on Rs 3,000-Cr CBDT Order

Shares of LTIMindtree Ltd rallied 5% to touch a day’s high of Rs 6,370 on 16th January, after the company said it has secured the Insight 2.0 project worth Rs 3,000 crore from the Central Board of Direct Taxes.

The project involves building an AI-powered programme to modernise India’s national tax analytics platform. The company said this in an exchange filing.

LTIMindtree added that the seven-year mandate strengthens its position in driving digital transformation. They are leveraging advanced digital architecture and data analytics to deliver real-time insights for policymakers.

In the second quarter, LTIMindtree reported stronger-than-expected earnings. Consolidated net profit rose 10.1% quarter-over-quarter to Rs 1,381.2 crore, compared with Rs 1,254.6 crore in the previous quarter.

Revenue increased 5.6% QoQ to Rs 10,394.3 crore. Meanwhile, operating profit jumped 17% to Rs 1,648 crore from Rs 1,406.5 crore in the previous quarter.

Operating margin expanded to 15.9%, up from 14.3% in the preceding quarter. LTIMindtree is scheduled to report its December quarter results on Monday, 19th January.

At 1:22 PM, shares of LTIMindtree were trading 4.96% higher at Rs 6,329.50 on NSE.

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